E-commerce companies GSI Commerce Inc. and Innotrac Corp. said Thursday that they have agreed to terminate a cash-and-stock buyout deal.
GSI, Innotrac Terminate Buyout Deal
GSI had agreed to buy Innotrac in October for $52 million, including $22 million in cash and the rest in stock. GSI's shares fell 91 cents, or 9.8%, to $8.44. The stock has ranged from $5.69 to $18.24 over the past year.